LLC vs. LC

Discussion in 'Legal Terminology' started by uio, Mar 24, 2008.

  1. uio Senior Member

    Quito, Ecuador Spanish
    English, USA
    What is the difference between these two? In my document, both are written out as being "limited liability company," which I have translated as S.A. "sociedad de responsabilidad limitada," but I am left questioning why there is a difference between LLC and LC.
  2. Dani California

    Dani California Senior Member

    Spain, Spanish
  3. uio Senior Member

    Quito, Ecuador Spanish
    English, USA
    You´re right, that was a helpful link. Thanks, Dani.
  4. Quieta Leona Senior Member

    Spain, Spanish
    En cualquier caso, las siglas serían S.L., no S.A. (sociedad anónima).

  5. Kibramoa

    Kibramoa Senior Member

    Heart of Texas, U.S.A.
    Spanish - MX
    Sociedad de responsabilidad limitada (S. de R. L.), en México.

  6. silvia fernanda

    silvia fernanda Senior Member

    SRL= sociedad de responsabilidad limitada ( en Argentina)

  7. Bubilay

    Bubilay Senior Member

    Misteriosa Buenos Aires
    ~Argentina~ castellano...
    Hola a tod@s

    As far as I can remember, there ARE differences between a Limited Liability Partnership and a Limited Partnership (and there are more types of these...)
    If I remember correctly, LPs are made up of general partners and limited partners. General partners participate in management and partnership's business, and have unlimited liability; the organization must have at least one of this type of partner. Limited partners do not take an active part in management and have limited liability. Going back to the point, the difference I consider worth mentioning is that in LLPs, partners have personal liability for contractual obligations, while in LPs at least one partner must be a general partner.
    Some useful links:
    VERY Interesting$FILE/October Issue_20061031.pdf
    Lots of info and MORE to read about Incorporation

    Ok; the idea was to help... Hope it's not late.

  8. uio Senior Member

    Quito, Ecuador Spanish
    English, USA
    In any case thanks for the links. I'll use the information the next time.
    One comment, in Ecuador I've never seen S.L, only S.A., which is why I chose not to use it in the translation. I suppose I need to do some more research to put the issue to rest.

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